Leggett & Platt (NYSE:LEG) Posts Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Leggett & Platt (NYSE:LEG - Get Free Report) announced its earnings results on Monday. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.33 by ($0.01), Briefing.com reports. Leggett & Platt had a positive return on equity of 12.65% and a negative net margin of 18.05%. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same quarter in the previous year, the company posted $0.36 earnings per share. Leggett & Platt's revenue for the quarter was down 6.3% on a year-over-year basis.

Leggett & Platt Trading Up 4.0 %

Shares of LEG traded up $0.49 on Tuesday, reaching $12.66. 3,472,243 shares of the company's stock were exchanged, compared to its average volume of 2,311,932. Leggett & Platt has a 12 month low of $10.11 and a 12 month high of $27.58. The company has a current ratio of 1.53, a quick ratio of 0.88 and a debt-to-equity ratio of 2.55. The stock has a market capitalization of $1.70 billion, a P/E ratio of -10.91 and a beta of 1.07. The business has a 50 day moving average price of $12.79 and a two-hundred day moving average price of $12.86.

Leggett & Platt Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Friday, September 13th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date of this dividend was Friday, September 13th. Leggett & Platt's dividend payout ratio (DPR) is -17.24%.

Analyst Upgrades and Downgrades

LEG has been the topic of a number of research reports. Truist Financial upped their target price on shares of Leggett & Platt from $11.00 to $13.00 and gave the stock a "hold" rating in a research report on Monday, August 5th. The Goldman Sachs Group dropped their price target on shares of Leggett & Platt from $14.00 to $12.00 and set a "neutral" rating for the company in a research note on Wednesday, July 10th. Finally, StockNews.com raised shares of Leggett & Platt from a "sell" rating to a "hold" rating in a research note on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating and three have given a hold rating to the stock. Based on data from MarketBeat, Leggett & Platt currently has a consensus rating of "Hold" and a consensus price target of $12.67.

About Leggett & Platt

Leggett & Platt, Incorporated designs, manufactures, and sells engineered components and products in the United States, Europe, China, Canada, Mexico, and internationally. It operates through three segments: Bedding Products; Specialized Products; and Furniture, Flooring & Textile Products. The company offers steel rods, drawn wires, specialty foam chemicals and additives, innersprings, specialty foam for use in bedding and furniture, private label finished mattresses, ready-to-assemble mattress foundations, static foundations, and adjustable beds, as well as machines for producing innersprings; industrial sewing and quilting machines; mattress-packaging; and glue-drying equipment for various industrial users of steel rod and wire, manufacturers of finished bedding, bedding brands and mattress retailers, E-commerce retailers, big box retailers, department stores, and home improvement centers.